Bitcoin Slips Below $65,000, Traders Eye $70,000 Level

Bitcoin's attempt to hold above $65,000 has failed for the fourth time in a row. The cryptocurrency is currently trading at just below $64,000, down over 1% on the day but slightly higher than its week-long average.

Ethereum and XRP led declines among major tokens, with ether falling to $1,878, almost 2%, and XRP dropping to $1.01, a nearly 6% loss for the week.

Solana bucked this trend, however, holding its weekly gain at 3% to trade at just under $76 per unit.

Analyst Alex Kuptsikevich notes that there is a 'build-up of short positions well above' the $65,000 level. He believes clearing $70,000 would shift sentiment meaningfully and put Bitcoin above its recent range.